CFPB reminds credit card issuers of potential CFPA violations related to issues with credit card rewards programs
By EsqSocial Corporation 24/12/24
On December 18, the CFPB issued a circular titled “Consumer Financial Protection Circular 2024-07,” which provided an analysis of whether credit card issuers and their partners may violate federal consumer protection law by devaluing or obstructing access to credit card rewards. The circular, which was addressed to all parties with authority to enforce federal consumer financial law, including other federal agencies, state regulators, and private plaintiffs, detailed several scenarios where the...
By: Orrick, Herrington & Sutcliffe LLP